Leaving a Bequest
The Will to Help Others
Leaving money to charity in one’s Will is a long-standing tradition that has been of great benefit to mankind through the years. It’s also one of the easiest ways to give – since you spend none of your money now. Only when you no longer need it, is it put to work to help others who may not have had the advantages in life that you have enjoyed.
What is a Bequest
A bequest is simply a gift in your Will – and may take the form of cash, real estate, vehicles or other valuable items. Of course you should first make provision for your own family and friends in your Will but – especially if your children are grown up – you may also want to use the opportunity to ‘give something back’ in return for life’s blessings.
Remembering your favourite charitable cause in your will is also a way you can continue caring for things that are important to you way beyond your own lifetime. It can also reduce the amount of estate duty payable on your estate when you die.
How to include a Bequest in your Will
If you decide to include a bequest to ABH Council in your Will, you may find the following useful:
I give and bequeath the sum of R……. (or) ………% of my estate (or) the residue of my estate subject to the payment of my debts, funeral and testamentary expenses (or) ………… (specific item/s) to the Aryan Benevolent Home Council, and I futher direct that the receipt of their Treasurer or other proper officer shall be a full and sufficient discharge.
You don’t have a Will
If you don’t have a Will, you should immediately arrange to have one drawn up by your bank, financial advisor or attorney. Since Wills and codicils need to be properly worded and witnessed it is not advisable to attempt the task yourself. A professional can also advise on ways to save taxes.
Even if you feel you have nothing of value to leave, if you die intestate (without a valid Will) it can take months, if not years, to tie up your affairs, during which time your family may suffer real hardship if bank accounts are frozen.
Making a Will should not be seen as a morbid task – but rather an important part of planning for the future and ensuring that your family and loved ones will be cared for and possessions distributed as you would want.